There was a time and place in this country where a law degree was an instant ticket to the top 1%. Soon enough the entire world caught on and now a law degree is damn near worthless unless you go to one of twelve schools.
Analysts/Associates at Investment Banks post-2007 are coming way late to a party that is already dying down, while there is another party down the street that is just starting up. Sure we all grew up reading books about Investment Bankers and Traders in the 80s, but if we're being real, that just isn't the culture anymore.
On the flip side, Silicon Valley firms, VC Funds and Quant shops are all currently living out their golden age with no signs of the growth slowing down. With their current boom has come an increasing need for good labor and more and more undergrads are going into industries where the earning potential is effectively unlimited.
Every industry has it's rise, peak, plateau and inevitable decline. The thing is, Investment Banking is clearly an industry that is over-saturated and declining. Working in IB is no longer the sexy job to have.
Take a look at your lifestyles gentlemen, you are not living like the protagonist from Liar's Poker and you've made 100x the sacrifices that he did. The hours are getting longer and the compensation is getting lower. The culture is being carefully audited by public and private institutions alike. Do not be behind the curve, be ahead of the curve.